Haydenville Savings Bank v. Parsons
Massachusetts Supreme Judicial Court
Contract upon a joint and several promissory note for $2500, dated October 20, 1877, payable in six months after date to the plaintiff, and made by Ansel Wright as principal and by the defendants as sureties. Answer, that the plaintiff had discharged the sureties by agreeing with Wright to extend the time of payment of the note.
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Contract upon a joint and several promissory note for $2500, dated October 20, 1877, payable in six months after date to the plaintiff, and made by Ansel Wright as principal and by the defendants as sureties. Answer, that the plaintiff had discharged the sureties by agreeing with Wright to extend the time of payment of the note. Trial in the Superior Court, before Staples, J., who ruled that the action could be maintained, and directed a verdict for the plaintiff; and the deféndants alleged exceptions. The facts appear in the opinion.
1Opinion of the CourtHolmes, J.
It has been held repeatedly in this Commonwealth, that receipt of interest in advance upon an overdue promissory note from the maker does not of itself import such *54a giving of time as will discharge the sureties. Oxford Bank v. Lewis, 8 Pick. 457. Blackstone Bank v. Hill, 10 Pick. 129. Central Bank v. Willard, 17 Pick. 150. Agricultural Bank v. Bishop, 6 Gray, 317. Jennings v. Chase, 10 Allen, 526. The most that the evidence for the sureties in the case at bar tended to show was such a payment, and, as we think, not even that. It is true that the note mentioned no rate of interest, and that…
2Cited by10 opinions
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